Catholic worshipers in the US can now donate cryptocurrency to support their church’s activities. But what is the Vatican’s stance on digital currencies?
While most religions are thousands of years old with a lot of outdated nonsense, one archdiocese (a sector the archbishop is responsible for) has shown that it goes modern when it comes to giving. He adopted a new asset class by partnering with Engiven, a cryptocurrency donation platform.
The Roman Catholic Archdiocese of Washington, DC will use the funds raised to expand its ministries and strengthen its digital stewardship initiatives.
Catholics worldwide do not have a uniform opinion about the moral approach to the use of cryptocurrencies. Other religions, such as Islam, have supported the use of certain cryptos as the Islamic coin.
According to the National Catholic Register, the Vatican has not commented on the use of cryptocurrencies: “No form of official moral assessment or guidance has been issued by any curial office.”
However, some observers say that early crypto-investors became enormously rich without working: to poverty.” And according to them, this is unfair.
Other Catholics believe that cryptocurrencies can actually solve a lot of problems for poor people. IN Thank God for Bitcoin, author JM Bush argues that the US monetary system “may introduce new money into the system at will, manipulate the value of money, and potentially distort the relationship between the work done by people and the wealth they actually possess”. As several critics have pointed out, this type of inflationary monetary policy has the greatest negative impact on the lower classes, who tend to have more of their wealth tied up in cash, as opposed to more assets. stable as land and capital.”
The author of this writing first bought BTC in 2017. According to him, the crypto took monetary governance out of the hands of a privileged few and established an immutable system that forced all participants to play by its rules and conform to them, rather than bending that of their own accord.”
Vatican art and its NFTs
That said, the Vatican is no stranger to all things Web3. In fact, Vatican art will soon even be found in the metaverse in the form of an NFT gallery, with VR company Sensorium responsible for creating this virtual world with Humanity2-0.org. You will find there, among other things, works by Van Gogh, Michelangelo, Picasso, Gauguin and Raphael.
Crypto Donations to the Catholic Church
Joseph Gillmer is executive director of development for the Archdiocese of Washington. On this theme, he said: “The Roman Catholic Archdiocese of Washington, DC seeks to leverage technology to engage parishioners in new and exciting ways to empower the faithful to carry out the mission of the Church. , which is to spread the light of the Church. Jesus The Gospel of Christ to the World Engiven helps us fulfill the mission of the Church by offering an advanced yet easy-to-use cryptocurrency donation platform that gives congregations the flexibility to support over 300 parishes, schools and ministries throughout the Washington, DC area”.
On the platform, the Church offers a number of donation options; a “menu of ministries”. For example, there are initiatives such as Community Food Security Programme.
James Lawrence, CEO of Engiven, said: “The Engiven platform was designed to enable enterprise-scale crypto donation solutions for exactly these types of deployments…”
Engiven says their technologies “enable government departments and nonprofit organizations to securely accept and liquidate cryptocurrency donations while eliminating the complexity and risk associated with crypto transactions.”
So what exactly is the Vatican’s stance on cryptocurrencies? It remains undefined for now, it seems.
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